Energy performance certification and time on the market |
| |
| Institution: | 1. Sabanci University, Turkey;2. Tilburg University, the Netherlands;1. School of Environmental and Rural Studies, Pontificia Universidad Javeriana, Colombia;2. Sanford School of Public Policy, Duke University, United States;3. School of Economics and Center for the Study of Security and Drugs (CESED), Universidad de Los Andes, Colombia;1. The World Bank, United States;2. Georgetown University, United States;1. University of Cambridge, UK;2. University of Turku, Finland;3. City of Helsinki Urban Facts, Finland;1. Resources for the Future, United States;2. John F. Kennedy School of Government, Harvard University, United States;3. Department of Agricultural and Consumer Economics, University of Illinois, United States |
| |
| Abstract: | This paper analyzes whether energy performance certificates (EPCs) serve as means to reduce the information asymmetry among market participants during the sale of homes. Using a sample of 876,000 single-family homes in the Netherlands, we examine the impact of EPC adoption on the speed of sale. Our results indicate that energy-rated homes sell faster than non-energy-rated homes, an effect that varies by 7–12 percent depending on model specifications and increases when positive (green) ratings are granted. The information conveyed by these certificates reduces the information asymmetry between buyers and sellers, which helps to reduce the uncertainty of quality. |
| |
| Keywords: | Energy performance certificate Information asymmetry Housing market Time on the market Energy efficiency D12 Q51 R21 |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
